Pension lump sum compensation - advice needed

jasper123

Hi,

I've recently been offered compensation based on poor pension advice. My questions are:

1. Should I assume that the amount offered is fair? If not, who could I employ on my behalf to check through the figures?
2. If I accept the amount, can I claim tax relief on this lump sum?

Any help would be greatly appreciately

McKneff

I think before anyone could help you, you need to post a lot more details.

What was the nature of the complaint, how much compensation has been offered.

I would have thought that a compo lump sum wouldnt be taxed anyway.

My pension company delayed my pension for about 4 weeks and they offered me £30 compensation and 1.32 of lost interest, you can imagine what i told them to do with their £31.32. So no, i wouldnt trust any first offer of compensation to be fair, but my judgement has been coloured by my own experience.

magpiecottage

I'll pm you.

zygurat789

jasper123 wrote: »

Hi,

I've recently been offered compensation based on poor pension advice. My questions are:

1. Should I assume that the amount offered is fair? If not, who could I employ on my behalf to check through the figures?
2. If I accept the amount, can I claim tax relief on this lump sum?

Any help would be greatly appreciately

Do you mean is it taxable? If so then compensation is not taxable